Daiwa Securities Group Inc. Reduces Position in Albemarle Co. (ALB)

Daiwa Securities Group Inc. cut its position in shares of Albemarle Co. (NYSE:ALB) by 35.0% during the 4th quarter, HoldingsChannel reports. The firm owned 3,472 shares of the specialty chemicals company’s stock after selling 1,873 shares during the period. Daiwa Securities Group Inc.’s holdings in Albemarle were worth $444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALB. California Public Employees Retirement System raised its stake in Albemarle by 3.0% during the fourth quarter. California Public Employees Retirement System now owns 251,570 shares of the specialty chemicals company’s stock valued at $32,173,000 after buying an additional 7,422 shares during the last quarter. M&T Bank Corp raised its stake in Albemarle by 1.4% during the fourth quarter. M&T Bank Corp now owns 54,981 shares of the specialty chemicals company’s stock valued at $7,032,000 after buying an additional 755 shares during the last quarter. ING Groep NV purchased a new position in Albemarle during the fourth quarter valued at $487,000. QCI Asset Management Inc. NY raised its stake in Albemarle by 6.8% during the fourth quarter. QCI Asset Management Inc. NY now owns 68,813 shares of the specialty chemicals company’s stock valued at $8,800,000 after buying an additional 4,410 shares during the last quarter. Finally, Stephens Investment Management Group LLC purchased a new position in Albemarle during the fourth quarter valued at $5,787,000. Institutional investors own 87.23% of the company’s stock.

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ALB has been the subject of a number of recent research reports. Robert W. Baird reiterated a “hold” rating and set a $135.00 price objective on shares of Albemarle in a research note on Wednesday, November 1st. UBS Group upgraded Albemarle from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $113.00 to $150.00 in a research note on Tuesday, January 30th. Jefferies Group lifted their price objective on Albemarle from $156.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday, November 14th. Oppenheimer reiterated a “buy” rating on shares of Albemarle in a research note on Wednesday, January 17th. Finally, Loop Capital set a $150.00 price objective on Albemarle and gave the company a “buy” rating in a research note on Tuesday, December 19th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Albemarle has a consensus rating of “Buy” and a consensus price target of $128.88.

Albemarle Co. (NYSE ALB) opened at $112.24 on Monday. Albemarle Co. has a one year low of $91.02 and a one year high of $144.99. The company has a quick ratio of 1.56, a current ratio of 2.11 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $12,402.03, a price-to-earnings ratio of 27.78, a PEG ratio of 1.48 and a beta of 1.56.

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Albemarle Profile

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions.

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